Agents' summary of business conditions - 2016 Q1

We regularly publish a summary of reports compiled by our twelve regional Agents following discussions with at least 700 businesses across the UK every reporting period.

Published on
23 March 2016

This publication is a summary of monthly reports compiled by the Bank of England’s Agents between late November 2015 and late February 2016. It generally makes comparisons with activity and prices a year earlier.

Annual rates of activity growth had eased, in part reflecting slowing world growth and an associated increase in uncertainty. Consumer spending growth had, however, remained resilient.

Bank credit availability had remained above normal for most contacts, although competition between lenders was reported to be stabilising after a period of intensification. Capital market financing conditions had become less favourable given recent market volatility.

Growth in total labour costs had remained modest, with low inflation having a slightly moderating effect on pay awards. Companies often reported that competitive pressures were restraining price inflation.

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